08 February 2018

RBI to Set up Ombudsman for Non-Banking Finance Companies

RBI to Set up Ombudsman for Non-Banking Finance Companies


The Reserve Bank of India announced setting up ombudsman for addressing customer grievances in the non-banking finance companies. The rules will be laid out by the end of February 2018.

RBI will start with deposit-taking NBFCs and widen the scope to cover NBFCs with asset size of Rs 100 crore. There are around 20 banking ombudsmen have been appointed with offices mostly in state capitals.

Static/Current Takeaways Important for Syndicate Bank PO 2018 Exam-
  • Dr Urjit Patel is the 24th Governor of RBI.
  • RBI Headquarters in Mumbai.

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